9 steps to creating a successful business — Business model canvas explained

What is a business model?

It is a plan you create for the successful execution of business, for example, What are the value proposition, how is the revenue generated, who are the key partners.

Why do we need a business plan?

  1. Easy to manage business
  2. it gives you a flexibility
  3. Easy to communicate
  4. Easy to understand using canvas
  5. Possibly you can stop what can go wrong.

9 segments of business model canvas

  1. Value proposition : what are your products or services? What is the job you get done for your customer?
  2. Customer segments : Who are your customers ? How do you identify them? .
  3. Channels : How do you communicate with your customer? How do you deliver the value proposition?
  4. Customer relationships : How does this show up and how do you maintain the relationship?
  5. Revenue streams : How do you generate revenue for the business?
  6. Key Resources : The people, knowledge, and money you need to run your business
  7. Key Activates : What do you do every day to run your business model?
  8. Key Partners : partners without them you can’t run business.
  9. Cost structure : Revenue generated, expenditure of the company .




Software developer, feminist,exploring new technologies

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Billionaires Should Fund a Basic Income Fund for Entrepreneurial Freelance Developers

Don’t Get Stuck In The Entrepreneur Waiting Room.

4 Ways To Remove The “That’s Too Expensive”Objection

6 Reasons Why Onboarding New Sales Hires is Scarier than North Korea

What’s behind Africa’s fundraising growth?

Don’t react to Churn — Prevent it!

No Guts, No Glory! Leadership Tips For Entrepreneurs|IGOR ROITBURG

Negotiating Founder Agreements

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Akshitha Shetty

Akshitha Shetty

Software developer, feminist,exploring new technologies

More from Medium


The 5 Fastest Ways To Become Rich, According to Experts

3 Obstacles New Makers Face and How I (Try) to Overcome Them

Things I learned from ultra running

A cloud inversion in the lake district in the middle of a 50 mile race